1 PLANET POLYMER TECHNOLOGIES, INC. EXHIBIT 11.1 STATEMENT OF COMPUTATION OF COMMON AND COMMON EQUIVALENT SHARES AS OF MARCH 31, 1998 1998 1997 --------- --------- Shares outstanding at beginning of period 5,271,269 5,271,269 7,337 shares issued on December 15, 1997 7,337 0 21,538 shares accrued December 31, 1997 21,538 0 --------- --------- Weighted average number of shares 5,300,144 5,271,269 ========= 10,169 shares issued on March 15, 1998 2,062 --------- Weighted average number of shares 5,302,206 =========